JPMorgan Chase & Co. grew its position in shares of Heritage Insurance Holdings Inc (NYSE:HRTG) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 934,894 shares of the insurance provider’s stock after purchasing an additional 9,982 shares during the quarter. JPMorgan Chase & Co. owned about 3.52% of Heritage Insurance worth $13,855,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Sun Life Financial INC bought a new stake in shares of Heritage Insurance in the 2nd quarter valued at $178,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Heritage Insurance in the 2nd quarter valued at $245,000. First Trust Advisors LP increased its stake in shares of Heritage Insurance by 18.0% in the 2nd quarter. First Trust Advisors LP now owns 26,498 shares of the insurance provider’s stock valued at $442,000 after acquiring an additional 4,048 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Heritage Insurance in the 2nd quarter valued at $519,000. Finally, Swiss National Bank increased its stake in shares of Heritage Insurance by 16.5% in the 2nd quarter. Swiss National Bank now owns 42,300 shares of the insurance provider’s stock valued at $705,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 78.41% of the company’s stock.
NYSE HRTG opened at $15.11 on Friday. Heritage Insurance Holdings Inc has a 12-month low of $12.85 and a 12-month high of $19.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $413.90 million, a P/E ratio of 7.41 and a beta of 1.20.
Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.36. Heritage Insurance had a net margin of 3.92% and a return on equity of 13.85%. The business had revenue of $125.30 million during the quarter, compared to the consensus estimate of $123.59 million. On average, sell-side analysts expect that Heritage Insurance Holdings Inc will post 1.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Saturday, December 15th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 13th. Heritage Insurance’s payout ratio is currently 15.69%.
HRTG has been the subject of several research analyst reports. TheStreet upgraded shares of Heritage Insurance from a “c+” rating to a “b” rating in a research note on Thursday, November 15th. Citigroup lowered their price objective on shares of Heritage Insurance from $17.00 to $16.50 and set a “buy” rating for the company in a research note on Friday, October 12th. Zacks Investment Research upgraded shares of Heritage Insurance from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. Finally, ValuEngine raised shares of Heritage Insurance from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.92.
In other Heritage Insurance news, CEO Bruce Lucas purchased 9,300 shares of Heritage Insurance stock in a transaction that occurred on Wednesday, November 7th. The stock was acquired at an average price of $16.07 per share, with a total value of $149,451.00. Following the transaction, the chief executive officer now owns 931,173 shares in the company, valued at approximately $14,963,950.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders purchased 24,182 shares of company stock valued at $390,958. 25.30% of the stock is currently owned by insiders.
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About Heritage Insurance
Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners; rental property insurance; and commercial residential insurance, as well as residential wind-only property insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina.
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